Cable & Wireless Announces John Reid, CEO to Step Down

12-12-2017

MIAMI, Dec. 12, 2017 (GLOBE NEWSWIRE) -- Cable & Wireless Communications ("C&W") today announced that John Reid will step down from the position of CEO in early 2018. An announcement on C&W’s incoming CEO will be made in due course, and until that time, Reid will remain in the post and will support the transition to new leadership.

Mike Fries, CEO of Liberty Global, parent company of C&W said: “John has been an exceptional leader for us, steering Cable & Wireless through significant changes and transformation; we have valued John’s dedication and energy and wish him the very best for the future.”

Reid has been an industry leader for more than 29 years in Canada and for the past 13 years across the Caribbean and Latin America. At Columbus Communications and then with the merger with Cable & Wireless, Reid played a key role in building the region’s leading full service communications and entertainment provider. Most recently, John was also instrumental in the integration of C&W with Liberty Global, which is due to deliver $150m in synergies, as well as readying the company to be part of Liberty Global’s Latin America and Caribbean operation, which is due to be split-off next month. During his tenure at C&W, Reid has driven the transformation of the business to focus on delivering an unparalleled customer experience leading to improved performance and efficiency, as well as the implementation of growth strategies for the Company’s mobile, residential, business and wholesale segments. In October 2016, Reid was recognized by leading intelligence source, Global Telecom Business, as one of the top five leaders from the Caribbean and Latin America in GTB’s Power 100.

Commenting, Reid said: “It has been a great privilege to lead C&W through the integration with Columbus and more recently with Liberty Global. With the planned split-off of Liberty Latin America, now is the right time to let new leadership take the business through its exciting next chapter. I am proud of what we have achieved during my tenure; with our focus on delivering an unparalleled customer experience starting to translate into performance momentum, and a talented new leadership team in place, C&W is ready for its next phase of growth.”

About C&W CommunicationsC&W is a full service communications and entertainment provider that delivers market-leading video, broadband, telephony and mobile services to consumers in 18 countries. Through its business division, C&W provides data center hosting, domestic and international managed network services, and customized IT service solutions, utilizing cloud technology to serve business and government customers.

C&W also operates a state-of-the-art submarine fiber network – the most extensive in the region.

About Liberty Global Liberty Global is the world’s largest international TV and broadband company, with operations in more than 30 countries across Europe, Latin America and the Caribbean. We invest in the infrastructure that empowers our customers to make the most of the digital revolution. Our scale and commitment to innovation enable us to develop market-leading products delivered through next-generation networks that connect our over 24 million customers who subscribe to over 50 million television, broadband internet and telephony services. We also serve over 10 million mobile subscribers and offer WiFi service across 10 million access points.

Liberty Global’s businesses are comprised of two stocks: the Liberty Global Group (NASDAQ:LBTYA) (NASDAQ:LBTYB) and (NASDAQ:LBTYK) for our European operations, and the LiLAC Group (NASDAQ:LILA) and (NASDAQ:LILAK) (OTC:LILAB), which consists of our operations in Latin America and the Caribbean.

The Liberty Global Group operates in 12 European countries under the consumer brands Virgin Media, Unitymedia, Telenet and UPC. The Liberty Global Group also owns 50% of VodafoneZiggo, a Dutch joint venture, which has 4 million customers, 10 million fixed-line subscribers and 5 million mobile subscribers. The LiLAC Group operates in over 20 countries in Latin America and the Caribbean under the consumer brands VTR, Flow, Liberty, Más Móvil and BTC. In addition, the LiLAC Group operates a sub-sea fiber network throughout the region in over 40 markets.